SUMMARY

INT

2015

REVIVING THE
OCEAN ECONOMY
The case for action - 2015
in association
with

Reviving the Ocean Economy: the case for action 2015 SUMMARY page 1

Front cover
A fisherman shows some of his catch in Mafamede,
Mozambique, part of the Primeiras and Segundas
Environmental Protection Area.
WWF-US / James Morgan

The Global Change Institute (www.gci.uq.edu.au) is

an Australian-based research institute that is focused on
evidence-based solutions to global challenges such as food
security, clean energy, sustainable water, and healthy oceans.
Professor Hoegh-Guldberg also undertakes research on coral
reef ecosystems and their response to rapid environmental
change, which is supported primarily by the Australian
Research Council (Canberra), National Oceanic and
Atmospheric Administration (Washington, D.C.), Catlin Group
(London), and Great Barrier Reef Foundation (Brisbane). He
did not receive salary for writing this report.
The Boston Consulting Group (BCG) is a global
management consulting firm and the worlds leading advisor
on business strategy. We partner with clients from the
private, public, and not-for-profit sectors in all regions to
identify their highest-value opportunities, address their most
critical challenges, and transform their enterprises. Our
customized approach combines deep insight into the dynamics
of companies and markets with close collaboration at all
levels of the client organization. This ensures that our clients
achieve sustainable competitive advantage, build more capable
organizations, and secure lasting results. Founded in 1963,
BCG is a private company with 81 offices in 45 countries. For
more information, please visit bcg.com
WWF is one of the worlds largest and most experienced
independent conservation organizations, with over
5 million supporters and a global network active in
more than 100 countries.
WWFs mission is to stop the degradation of the planets
natural environment and to build a future in which humans
live in harmony with nature, by conserving the worlds
biological diversity, ensuring that the use of renewable natural
resources is sustainable, and promoting the reduction of
pollution and wasteful consumption.

Lead author: Professor Ove Hoegh-Guldberg

Global Change Institute, University of Queensland,
St Lucia, 4072, Australia
The Boston Consulting Group: Douglas Beal, Taz Chaudhry.
Additional contributors: Hassan Elhaj, Amer Abdullat, Petra
Etessy, Marty Smits
Editor-in-chief: John Tanzer
Managing editor: Paul Gamblin
Contributing editor: Valrie Burgener

A WWF International production

Printed by NCP SA, Switzerland
The designation of geographical entities in this report, and
the presentation of the material, do not imply the expression
of any opinion whatsoever on the part of WWF concerning
the legal status of any country, territory, or area, or of its
authorities, or concerning the delimitation of its frontiers
or boundaries.
Published in April 2015 by WWF World Wide Fund For
Nature (Formerly World Wildlife Fund), Gland, Switzerland.
Any reproduction in full or in part must mention the title, the
lead author, and credit the above-mentioned publisher as the
copyright owner.
Text 2015 WWF. All rights reserved
ISBN 978-2-940529-20-9

The full report is available at: ocean.panda.org

Recommended citation: Hoegh-Guldberg, O. et al. 2015.

Reviving the Ocean Economy: the case for action - 2015.
WWF International, Gland, Switzerland., Geneva, 60 pp.

SUMMARY

Earth is distinguished from all other known

planets by the presence of a warm, salty
ocean that covers more than two-thirds
of its surface. Its value to our planet is
incalculable, but has been brought into sharp focus
by the fact that the future of humanity is dependent
on the health of the ocean, and the goods and
services it provides.
Yet this invaluable resource that feeds us, stabilizes the climate and provides
countless other benefits is showing serious signs of failing health. Ocean health is
declining due to local stresses such as habitat destruction, overfishing and pollution,
as well as global phenomena such as rapid and unprecedented changes in ocean
temperature and acidity.
WWFs Reviving the Ocean Economy report clearly spells out what we all stand to
lose if the mismanagement of ocean assets continues. Recognizing that science alone
is an insufficient motivator, we have combined the evidence of serious environmental
degradation with the economic case for urgent action.
Working with the eminent scientist Professor Ove Hoegh-Guldberg and in
collaboration with leading business consultancy The Boston Consulting Group, WWF
looked at the bottom-line implications leaders should consider based on current
policies and practices. The results illustrate the economic case for ocean conservation
in stark terms. The range of goods and services that flow from coastal and marine
environments can be valued conservatively at US$2.5 trillion each year, and the
overall value of the ocean as an asset is 10 times that. We emphasize that this is an
underestimate, as outputs that are not generated by the ocean offshore oil and gas,
and wind energy, for example were excluded, as were valuable intangibles such as the
oceans role in climate regulation.
naturepl.com / David Fleetham / WWF

Reviving the Ocean Economy: the case for action 2015 SUMMARY page 3

The report brings together the latest assessments of some of the most valuable ocean
assets, from fish stocks to corals, and shows how rapidly they are declining. To
revive the oceans productive capacity before it is too late, the world must take urgent
action. The eight actions proposed are achievable and all are important; however, we
recommend that the first three be prioritized for action in 2015.

ACTION 1

Ensure ocean recovery features strongly in the UN Post-2015 Agenda,

including the Sustainable Development Goals (SDGs). The Post-2015
Agenda will establish global ambition, outline practical policy steps and
guide investment in sustainable development for the next 15 years or more.
Goal 14 of the SDGs focuses specifically on the ocean, namely to conserve
and sustainably use the oceans, seas and marine resources for sustainable
development. Indicators under this goal must address issues such as
habitat destruction, overfishing, illegal fishing and marine pollution, and
solutions must be crafted in an equitable and participatory way. If all
this is achieved, the scene will be set for unprecedented and concerted
international action, which is crucial for steering our ocean toward a more
sustainable future.

ACTION 2

Address the problems of ocean warming and acidification. We must listen

to science and make the deep cuts in emissions that will prevent further
increases in dangerous climate change. It is vital that the world signs on to
an ambitious international agreement in Paris in December 2015 (COP21)
that will allow the rapid decarbonization of our economies and societies.
Failure to solve the climate change problem will frustrate, and in many
cases defeat, attempts to bring sustainable practices to the worlds ocean.

ACTION 3

Countries should deliver against the agreed target for at least 10 per cent
of coastal and marine areas to be protected and effectively managed by
2020, with an increase to 30 per cent by 2030. This is not just about the
extent of area protected; it is about establishing representative networks of
marine protected areas that are most important for delivering outcomes for
biodiversity, food security and livelihoods.

ACTION 4

With 61.3 per cent of the worlds fisheries now fully exploited, and 28.8
per cent over-exploited, depleted or recovering from depletion, there is
an urgent need to revise policies to ensure that the over-exploitation and
destruction of fisheries does not continue, and to deal with the problem of
illegal fishing. Habitat protection and fisheries management must go hand
in hand, with the goal being ecologically sustainable fisheries.

ACTION 5

Given the transboundary nature of the ocean, we need appropriate

international mechanisms for negotiation and collaboration to ensure its
sustainable management. Formation of a Blue Alliance of concerned
maritime countries will provide leadership and build the case for a rapid
and comprehensive set of actions on behalf of the ocean.

Such a coalition could build international will and foster the shared
global responsibility and informed decision-making that are important
when it comes to ocean resources. It will also be important to establish a
global fund to support countries that have fewer resources and are more
vulnerable to the impacts of ocean degradation.

page 4 Reviving the Ocean Economy: the case for action 2015 SUMMARY

ACTION 6

Appropriately structured public-private partnerships that take into account

the well-being of communities, ecosystems and business have the potential
to revolutionize how sectors work together sustainably. Enabling a network
of such cross-sector partnerships to share ideas, solutions and blueprints for
sustainable practices will ensure that even the poorest countries have access
to necessary resources.

ACTION 7 Communities and countries must develop complete, transparent and public
accounting of the benefits, goods and services that the ocean provides.
Valuing the oceans assets is vitally important to effective decision-making.

ACTION 8

Develop an international platform to support and share ocean knowledge

and solutions through which problems can be understood, and solutions
and methodologies evaluated and applied. Such a platform must be
interdisciplinary and informed by biological, social and economic data.
This platform will build capacity and improve access to critical information
and expertise.

WWF has brought together the research and conclusions of an expert community
and marries this scientific evidence with a common-sense economic case for action
to safeguard the value of our ocean. The message is clear: We are running down our
ocean assets and will push the ocean economy into the red if we do not respond to
this crisis as an international community. A prudent treasurer or CEO would not wait
until the next financial report to correct course. They would act now.
The eight actions outlined here can provide a sustainable future for the hundreds of
millions of people who depend directly on the ocean for their food and jobs, and for
all humanity, which depends on the ocean as an essential contributor to the health of
our planet.

Reviving the Ocean Economy: the case for action 2015 SUMMARY page 5

OCEAN ASSET VALUES

FIGURE 1 - GLOBAL OCEAN ASSET VALUE
OCEAN-RELATED
ACTIVITIES AND ASSETS

The ocean provides wideranging value, from food

and tourism to coastal
protection and much more.

TOTAL
VALUE

Direct output of the ocean from:

Marine
fisheries

US$

6.9tn

US$

5.2tn

Productive coastline

US$

7.8tn

Carbon absorption

US$

4.3tn

Mangroves

Coral
reefs

Seagrass

Trade and transport:

THE OCEAN

Shipping lanes

Adjacent assets:

Direct Outputs

Indirect/Intangible Outputs

FIGURE 2 - ANNUAL GROSS MARINE PRODUCT

The annual gross marine product, the
equivalent of a countrys GDP,
would make the ocean the worlds 7th
largest economy.

1st USA

GDP: US$17.4tn

2nd CHINA

GDP: US$10.4tn

3rd JAPAN

GDP: US$4.8tn

4th GERMANY
GDP: US$3.8tn

5th FRANCE

GDP: US$2.9tn

6th UK

GDP: US$2.9tn

7th THE OCEAN

US$2.5tn

8th BRAZIL

14th S. KOREA
GDP: US$1.4tn

GDP: US$2.2tn

9 ITALY
th

GDP: US$2.1tn

10th RUSSIA
GDP: US$2.1tn

11th INDIA

GDP: US$2.0tn

12th CANADA
GDP: US$1.8tn

13th AUSTRALIA
GDP: US$1.6tn

page 6 Reviving the Ocean Economy: the case for action 2015 SUMMARY

US$24tn

The oceans asset

value would dwarf the
worlds largest sovereign
wealth funds:

US$893bn
NORWAY

Government Pension Fund

US$773bn
ABU DHABI
The ocean is
valued at more
than US$24 trillion;
however, its actual
value is likely to be much
higher because many key
ecosystem services are
difficult to quantify.

ADIA

US$757bn

SAUDI ARABIA
SAMA

US$653bn
CHINA

China Investment Corp.

FIGURE 3 - OCEAN ECONOMY DEPENDENT ON HEALTHY ASSETS

Gross marine product

is the oceans annual
economic value.
More than two-thirds of
the gross marine product
is dependent on healthy
ocean assets.

Analysis for this

section is provided by:

The Boston Consulting Group, Inc. All rights reserved.

For more information on the BCG methodology, please visit: ocean.panda.org

Reviving the Ocean Economy: the case for action 2015 SUMMARY page 7

UNDERPERFORMING ASSETS: GLOBAL OCEAN ECONOMY IN DECLINE

DECLINE OF FISHERIES

90% OF GLOBAL FISH

STOCKS ARE OVEREXPLOITED OR FULLY
EXPLOITED

PACIFIC BLUEFIN TUNA

NUMBERS HAVE DROPPED
96% FROM UNFISHED
LEVELS

As natural assets are

degraded, the ocean is
losing its capacity to feed
and provide livelihoods for
hundreds of millions of people.
The downward trends are
steep and reflect major
changes in species abundance
and diversity, as well as
habitat extent, most over a
single human lifespan.

References:
FAO 2014, ISC 2012, WWF/ZSL 2014, Hoegh-Guldberg 1999,
Hoegh-Guldberg et al. 2007, Waycott et al. 2009, UNEP 2014.

61%

FULLY
EXPLOITED

29%

OVEREXPLOITED

90%

page 8 Reviving the Ocean Economy: the case for action 2015 SUMMARY

96%
DECLINE

DECLINE OF HABITATS

DECLINE OF MARINE SPECIES

THE MARINE LIVING PLANET INDEX*

SHOWS A DECLINE OF 39% BETWEEN
1970 AND 2010

39%

DEFORESTATION
RATE OF MANGROVES
EXCEEDS EVEN THE
LOSS OF FORESTS
BY 3-5 TIMES

50% OF THE
WORLDS CORALS
HAVE DISAPPEARED

*The marine Living Planet

Index is an indicator
of the state of global
biological diversity, based
on trends in more than
900 marine species of
mammals, birds, reptiles
and fish.

3-5x

ALMOST ONE-THIRD OF
ALL SEAGRASSES HAVE
BEEN LOST

29%
50%

2050
AT CURRENT RATES OF TEMPERATURE
RISE, CORAL REEFS WILL DISAPPEAR
BY 2050

Reviving the Ocean Economy: the case for action 2015 SUMMARY page 9

 WWF-US / James Morgan

TIME TO HIT THE

RESET BUTTON
The message is clear: We are running down our ocean assets and
will push the ocean economy into the red if we do not respond to
this crisis as an international community.
It's time to act and provide a sustainable future for the hundreds of
millions of people who depend directly on the ocean for their food
and jobs, and for all humanity, which depends on the ocean as an
essential contributor to the health of our planet.

 REVIVING THE OCEAN ECONOMY

The ocean in numbers

100%

RECYCLED

US$24TN
The overall value of key
ocean assets is more than
US$24 trillion

2/3
Two-thirds of the base economic
value of the ocean is produced
by assets that rely on healthy
ocean conditions

2050
At current rates of
temperature rise, coral
reefs will disappear
by 2050

WWF is a WWF Registered Trademark. WWF, Avenue du Mont-Blanc, 1196 Gland, Switzerland
Tel. +41 22 364 9111 Fax +41 22 364 0332. For contact details and further information,
please visit our international website at www.panda.org

OCEAN.PANDA.ORG

1986 Panda symbol WWF World Wide Fund For Nature (Formerly World Wildlife Fund)

SUSTAIN OUR SEAS

INT

panda.org

Based on the gross

marine product, the
ocean is the 7th
largest economy in
the world

Brent Stirton / Getty Images / WWF

Why we are here

To stop the degradation of the planets natural environment and
to build a future in which humans live in harmony with nature.

7TH